Gujarat High Court Orders Tax Benefits for Gandhinagar Industrial Park u/s 80-IA of Income-tax Act 1961.

The Central Government, following a Gujarat High Court order, has notified an industrial park developed by a company in Gandhinagar for tax benefits under Section 80-IA of the Income-tax Act, 1961. The park, spanning 185 acres, includes activities like computer hardware manufacturing, hotels, residential complexes, and IT services. The approval is contingent on adherence to specified conditions, including maintaining operations during the benefit period and obtaining necessary investment approvals. Any misinformation or unauthorized project changes may invalidate the approval. The park's proposed commencement was September 2001, with a total investment of 504.39 crores INR.

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